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Listing ID: 202104388
Price: $2,400,000
Status: Active
Address: 1 Quail Creek Cir 1, 2 & 3
Unit Number: 1, 2 & 3
City: North Liberty
State: Iowa
Postal Code: 52217
SqFt: 17,162
Acres: 2.670
County: Johnson
North Liberty
This property is priced at a Cook Appraisal price from 5/4/2020 at $2,400,000. The size, including the second-floor conference room, is 17,162 SF. This represents a Capitalization Rate of return of 8.7% if the building is assumed to be full at current market rates. 1/3 of the building is vacant and is ready for a new tenant, or an owner occupant as the existing long-term tenant just relocated. The market rent is a very competitive rate of $20 per foot per year full service, including taxes, insurance, CAM and utilities. That rate approximates a NNN lease rate of $12.56. See Pro-Forma in Associated Documents.

Basic Features

Listing Price: $2,400,000
Address: 1 Quail Creek Cir 1, 2 & 3
Unit Number: 1, 2 & 3
City: North Liberty
State: Iowa
Postal Code: 52217
County: Johnson
Zoning: C 1 B
Area: NW Quadrant
Year Built: 1991
Location: Freestanding, Office Center
Business: Educational, Medical Dental, Office Building, Retail Store, Wholesale, Other
Square Feet: 10, 000-20, 000 SqFt
Acres: 2.670
Lot Size: 2-5 Acres
Sale/Lease: For Sale
Rent/Lease: neither
Type of Lease: NA
Rent/Lease Price: $2,400,000
Days on Market: 12
Status: Active
Documents: Aerial Photo, Other Documents Available
Possession: Negotiable
Possible Financing: Cash, Conventional

Additional Features

Associated Document Count: 4
CI Features: Display Window, Other
Construction Company: Frame
Utilities Available: Cable TV, Electricity, Natural Gas, Sewer, Water-City
Cooling: Central A/C
Heating: Gas, Forced Air
Floor Type: Carpet, Ceramic Tile, Vinyl/Vinyl Tile
Gross Tax (County & City): 61650
Lot Dimensions: Irregular
Property Sub Type: Commercial
Roof Type: Composition
Special Features: None
Tax ID: 0613304001
Tax Year Report: 2019
Variable Rate: no
Road Frontage: County/City Road, Pavement

Zoning Info

© 2022 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS

Contact - Listing ID 202104388

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Jeff Edberg

2346 Mormon Trek Blvd, Ste #2000
Iowa City, IA 52246
Phone: 319-331-6187
Phone Alt: 319-331-6187

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